Protect your company through proactive risk mitigation and understanding how regulators work and the key reasons they investigate businesses.
Regulators are those governmental agencies which have oversight into our operations.
When a regulator calls us or comes to visit, it’s usually the result of unhappy customers – which we have not satisfied – who complains to them. Subsequently, the regulators will ask many questions about our business practices and how we operate. They have the authority to fine us and try to impose penalties in an effort to ensure our compliance with the myriad of laws which we must follow.
This workshop highlights business risk and the continuous cycle of supervision which each of these agencies perform when it come to businesses within their purview.
- Business risk and how to avoid the regulatory oversight altogether
- The four (4) elements of the regulatory cycle
- The importance of ongoing employee training, and signed, employee acknowledgements
Your dealership will always have an extreme vehicle titling problem come up from time to time, or simply have chronic difficulties with managing the title and tag department. This presentation will describe several methods of solving the most complex title issues, and also provide some best practices for structuring a title desk for ongoing efficiency and avoiding customer dissatisfaction and regulatory enforcement actions.
- Checklist for sales, F&I, and admin to cut hourly cost of title processing
- Dig out of the hole of backlogged titles
- Turn average admin staff into title experts
Monthly vehicle payment trumps selling price for today’s car buyers, yet nearly 70% of dealers use inaccurate online tools to quote monthly payments – a disconnect that perpetuates stereotypes and creates profit leaks. Affordability ranks as car-buyers’ top 2023 challenge, yet over half of dealers think a monthly quote can be within $50 of the final contracted payment – contributing to expensive rewinds & lost PVR potential. Why is this happening and how can dealers bridge these disconnects? This session, full of fresh data, offers insights from U.S. dealers, and real-world solutions for eliminating negotiation and F&I frictions and adopting new digital finance pre-desking tools that dealers say leads to faster, more profitably structured deals and increase F&I penetration by 10% or more.
- Learn how credit-first buying experiences eliminates frictions – locking in the ‘yes’ sooner – creating more opportunities to capture gross and increase closing ratios – and they’ll convert faster.
- Learn how digital finance pre-desking solutions evolve basic online payment calculator tools and the educated guesswork used by most desk managers – by providing customer and vehicle-qualified payment terms matched to lender fundable contract terms – prior to the first pencil or F&I handoff.
- Learn how making deals transparent is the linchpin to accelerating digital retailing into truly successful modern retailing.
By standardizing the appraisal or inspection process, we can begin to centralize decision-making and leverage big data to drive offers. Each day, dealers are realizing that having a proper consumer acquisition strategy builds inventory, improves profitability, and drives traffic. Building processes requires technology that works within your existing ecosystem. So how can a dealer use technology and data to make sure they don’t miss a single customer car across their dealership group? It starts with a consistent, standardized appraisal process that allows your decision makers (buyers, appraisers, etc) and data to ensure the right money is put on every car that comes into your group, regardless of brand. This session will describe, develop, and illustrate how to integrate these factors.
- How to work and acquire consumer inventory across brands by using technology to empower and educate your staff
- Learn how to close more trades and win more vehicles from consumers by establishing value through trust and transparency.
- Discover ways to drive profitability and sell more cars through consistent appraisals and inspections that prepare your dealership to use technology to break away from the pack
Which auction channel should you use to buy or sell your next vehicle? Most auctions do not have a “one-size fits all” approach to remarketing. The workshop will give a unique perspective on each remarking option clearly explaining the pros and cons of each auction channel from someone who has worked for the small independent, the MEGA-Auction, Digital auction and the large independent.
Not focusing on any one-auction company or platform, the workshop will dive behind the scenes of the digital and physical auctions that exist today. How can buyers and sellers make the best decision with the best information Which channel do I use to buy my next vehicle? Digital, physical, in-lane vs simulcast? The same goes when selling your next vehicle, digital may be better than physical or vice-versa
- Is the “one auction fits all my needs” approach when buying or selling the way to go?
- Pros and cons to in-lane, simulcast, and digital
- Which vehicles do better in the different selling/buying segments?